This paper proposes a strategy for fisheries development, aimed primarily at the World Bank Group but it is also believed to have relevance to all development institutions concerned with fisheries development. The paper was developed from an extensive review and analysis of the current trends and worldwide status of the fishery sector and its relationship with other economic and social sectors, giving ample consideration to the lessons learned from past experience. The authors propose a development strategy built on four institutional elements and a number of avenues in which sectoral prospects may be influenced in positive directions to further development. The institutional elements are : interagency coordination, sector studies, fisheries research, and private sector development. The sectoral aspects are : improving resource management, managing the environment, developing human resources, particularly recognizing the role of women in development, developing aquaculture, developing artisanal and inland water fisheries, and developing and restructuring semi-industrial and industrial fisheries primarily through the private sector.